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Wed 18th Oct 2017 - BrewDog looks to raise £50m with Equity for Punks V
BrewDog looks to raise £50m with Equity for Punks V: Scottish brewer and retailer BrewDog has launched the latest round of its record-breaking crowdfunding scheme, Equity for Punks, which the company believes will make it the biggest crowdfunded business of all time. This fifth round of Equity for Punks is looking to raise £10m, with the potential to extend to £50m, by releasing 421,052 new B shares. BrewDog is marking the launch by invading London with a giant Trojan dog, filled with its flagship beer, Punk IPA. It said the 17-foot wooden construction was a metaphor for the invasion of the corporate world with a new model of business founded in community and passion. BrewDog will use the investment to further its global expansion, which includes the construction of new breweries in Australia and Asia, the opening of 15 craft beer bars in the UK, increasing the capacity in its UK brewery, and the creation of a dedicated craft beer TV network. The initiative will run for an initial three months, closing on 15 January. Shares will cost £23.75 each and be issued in blocks of two, with a minimum investment of two shares for £47.50. The initial target raise of £10m will be used to build a new Brewhouse at its Ellon brewery to help fulfill volume demand across the UK and Europe. Further investment will be used to develop its first sour beer facility, The Overworks, which will launch later this year. Any funds raised above its initial target up to a maximum of £50m will support accelerated growth across the global business, including pouring £10m into opening a new brewery in Asia, and £5m to open one in Australia. A total of £3m would be invested into its UK BrewDog bars, with plans to open 15 new bars in 2018, including four brewpub locations. BrewDog also wants to invest £2m into creating its own television network dedicated to craft in all walks of life, following the success of its television show, Brew Dogs, which aired on Esquire Network in the US and was the most watched show about beer to ever hit the small screen. BrewDog has seen its value increase by 2,765% since 2010. It now boasts an 800-strong global team, 47 bars around the world, and two breweries in Ellon, Aberdeenshire and Columbus, Ohio. Much of its growth has been supported by Equity for Punks, which has raised £41m since 2009. Earlier this year, BrewDog sold a 22% stake to US private equity firm TSG Consumer Partners for £213m, giving BrewDog an enterprise value of £1bn. BrewDog co-founder James Watt said: “The latest round of Equity for Punks will make us the biggest equity crowdfunded business of all time, having already raised more than £41m from a community of tens of thousands of misfits, forging a new kind of business model founded on craft, community and conscience. Our Equity Punk investors haven’t just supported the growth of an organisation now valued at more than £1bn, they have inspired the creation of a model that will give away 20% of its profits to its team and charitable causes via our pioneering ‘Unicorn Fund’. Equity for Punks V signals a tipping point – a point when the many overturn the few. When purpose overtakes profit. When the fuse is lit on the old order of businesses already struggling to come to terms with a world that demands more from business. Our Trojan dog is a reminder of the awesome power of people to change the world, with the crowdfunding revolution delivering a stark wake-up call to a broken system that represents a tiny group of fat cats. It’s a symbol of the 50,000 investors who helped transform BrewDog from two humans and a dog into a £1bn business challenging the status quo at every turn. Crowdfunding is no longer alternative business – it is good business. Driven by passion, energy and community. Investing into BrewDog isn’t just about seeing the value of your shares increase much faster than they would on the FTSE, it’s about joining a global community with a purpose. From receiving awesome money-can’t-buy benefits to being part of the biggest community-fuelled crowdfunded charity contribution in history, being an Equity Punk is about being part of something with the potential to change the world.”


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